Battery Raw Materials Market size worth $80.5 billion by 2030, driven by rising demand for energy storage systems in power generation

According to the study, the industry is expected to garner a revenue of $87.1 billion by 2031, rising at a CAGR of 6.3% from 2022 to 2031. The market research report from Allied Market Research delivers a comprehensive analysis of the competitive landscape in the battery raw materials market, designed to assist key players in enhancing revenue and maintaining a competitive advantage. This report evaluates competitive dynamics and identifies key investment opportunities for stakeholders by using analytical frameworks such as Porter's Five Forces and PESTEL analysis. These methodologies utilize key performance indicators such as CAGR and relative industry share to guide strategic decision-making.

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Surge in usage of consumer electronics devices such as smartphones and laptops and collaborations between miners and battery manufacturers drive the growth of the global battery materials market. However, regional concentration of battery metal reserves in few countries such as China that poses the risk of supply shortages and environmental concerns related to metal mining hinder the market growth. On the other hand, rise in electric vehicle production and supportive government policies and financial incentives in terms of grants or tax rebates create new opportunities in the coming years.

In the last few years, industry leaders have brought notable innovations due to surge in demand for EVs and energy storage systems. Sodium-ion batteries have emerged as a feasible battery alternative, offering safer and more sustainable materials that lower energy density compared to lithium-ion batteries.

Based on type, the lithium-ion segment accounted for the highest market share in 2020, contributing to more than half of the total share, and is expected to maintain its leadership status during the forecast period. Moreover, this segment is estimated to manifest the highest CAGR of 6.1% from 2021 to 2030.

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Based on application, the electronics industry segment held the largest share in 2020, accounting for more than half of the global battery materials market, and is projected to maintain its leadership status during the forecast period. However, the automobile industry segment is expected to portray the fastest CAGR of 6.2% from 2021 to 2030.

Based on region, Asia-Pacific contributed to the highest share in 2020, holding more than two-fifths of the total share, and is expected to continue its dominance in terms of revenue by 2030. Moreover, this region is estimated to witness the largest CAGR of 6.2% during the forecast period. The research also analyzes regions including North America, Europe, and LAMEA.

The report highlights the leading companies in the vacuum insulation panel industry, providing detailed profiles that include their market share, product offerings, business strategies, and revenue contributions.

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The prominent players identified in the study include:

BASF SE

Nichia Corporation

TOSHIBA Corporation,

Valence Technology, Inc.

ENTEK INTERNATIONAL

LG Chem Ltd,

ECOPRO

Nippon Denko Co,

TARGRAY TECHNOLOGY INTERNATIONAL INC.

Celgard, LLC,

ASAHI KASEI CORPORATION

Mitsubishi Chemical Corporation,

Hitachi Chemical Co. Ltd.,

NEI CORPORATION,

showa denko k.k.,

Johnson Matthey plc

3M

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